All Real Assets articles in Web Issue – Page 530
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PropertyEU Archive
Logiffine completes leasing of 61,000 m[sup]2[/sup] logistics park
Logiffine, the joint venture between MGPA and the Affine Group, has announced the leasing of 12,200 m[sup]2[/sup] of a logistics park development in Montéléger, Drôme, for a nine-year period to Reynolds. The transaction marks the completion of the Logiffine leasing programme for the Montéléger site and brings the occupancy rate ...
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PropertyEU Archive
W. P. Carey buys in Croatia for EUR 77m
W. P. Carey, the global investment management company, has acquired two office and logistics facilities in Zagreb, Croatia for EUR 77 mln including acquisition fees. The transaction is W. P. Carey’s first in Croatia was conducted via CPA Global, one of its publicly held non-traded REIT affiliates.
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PropertyEU Archive
Allianz RE confirms purchase of Capital 8 in Paris
Allianz Real Estate has confirmed the acquisition of the Capital 8 office complex in Paris from Franco-Dutch property group Unibail-Rodamco. Although the acquisition price was not disclosed, market sources indicate that Allianz RE is forking out EUR 260 mln to acquire the 18,000 m[sup]2[/sup] Grade-A complex. The transaction is said ...
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PropertyEU Archive
Bank lending continues to fall
Bank lending in sterling to real estate improved by £3.2 bn (EUR 3.7 bn) in Q1 2010, after falling over the last two quarters. Total lending reached £246 bn (including lending by building societies), according to a report by Jones Lang LaSalle based on the latest Bank of England ...
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PropertyEU Archive
Sonae Sierra in talks to buy stake in German mall
Portuguese retail specialist Sonae Sierra has confimed that it is in negotiations with German project manager HLG to buy an interest in the Hofgarten shopping centre project in Solingen, Germany. A Sonae Sierra spokesperson told PropertyEU that 'the negotiations have been very positive until now' but added that a final ...
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PropertyEU Archive
Signa Recap buys Vienna tower with German insurer
A joint venture between Vienna-based Signa Recap Development Fund I and a large German insurance group has acquired a 100% interest in the IZD Tower in Vienna from Matrix European Real Estate Investment Trust (MEREIT) for over EUR 212 mln. Although the name of the insurance group was not disclosed, ...
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PropertyEU Archive
Redevco opens Part Dieu extension with Unibail Rodamco
Unibail-Rodamco and Redevco opened the new 15,000 m[sup]2[/sup] extension of La Part Dieu shopping centre in Lyon this week. The extension comprises 25 units fully let to international and local retailers including Saturn, Monoprix, New Look, G Star, We Store and Tommy Hilfiger.
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PropertyEU Archive
KanAm recloses Grundinvest fund
KanAm said on Thursday it has reclosed its Grundinvest open-ended property fund for redemptions for a three-month period following strong capital outflows last weekend in reaction to draft German investment laws which propose tighter notice and mininum holding periods for investors. In a statement, KanAm said the move was intended ...
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PropertyEU Archive
Italy sees renewed interest from international investors
International investors' appetite for Italian real estate has been growing strongly in the first months of 2010, but few of the deals being considered are ultimately completed, according to CBRE's head of capital markets Paolo Bellacosa. 'Several investors are looking to buy but the success rate of deals is still ...
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PropertyEU Archive
Signs of prelets spark optimism in Madrid office market
Madrid’s office market has seen the return of prelets including a 15,000 m[sup]2[/sup] deal signed by AENA (Spanish Airport and Air Travel) at the beginning of Q2, in addition to over four deals signed in the northern zone in the last quarter, according to global real estate adviser Savills.
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PropertyEU Archive
CBRE signals increased lender confidence in Q1
Financing conditions eased in Q1, according to CB Richard Ellis in its latest Capital Markets Report. The report, which focuses on banks’ propensity to lend to real estate across Europe, has signalled a modest increase in maximum loan-to-value ratios (LTVs), with all key European markets now at or above 65%, ...
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PropertyEU Archive
DTZ sees global invested stock rising 5% in 2010
The worst of the property slump is over, according to DTZ’s Money into Property report. The adviser forecasts that global invested stock will grow by 5% in 2010, with the UK seeing an even higher increase of 8% as capital values continue their recovery.
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PropertyEU Archive
Altarea, ABP and Predica buy Cap 3000 for EUR 450m
A joint venture of French retail specialist Altarea, Dutch pension fund ABP and Crédit Agricole Assurances' Predica unit has acquired the Cap 3000 shopping centre in Saint-Laurent du Var, near Nice from Galeries LaFayette. The transaction price of EUR 450 mln reflects a yield of 4.65%.
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PropertyEU Archive
UBS acquires Living Office in Dusseldorf for EUR 52m
Swiss fund manager UBS Real Estate has acquired the Living Office building in Dusseldorf for its open-ended real estate fund UBS (D) Euroinvest Immobilien. The seller was CF Living Office Immobilien, a real estate holding of the American food and financial services group Cargill Inc. The transaction price amounted to ...
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PropertyEU Archive
Greece worst performer in April in GPR index
Greece was the worst performer in the GPR index of listed property stocks in April, with a negative performance of -28.1%. All in all, European propery stocks shed 2.3% over the month.
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PropertyEU Archive
SEB closes ImmoInvest fund for redemptions
SEB has temporarily suspended the redemption of units in its SEB ImmoInvest fund. The move follows a significant rise in unit redemptions across all customer segments.
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PropertyEU Archive
Redevco snaps up Dutch retail portfolio
Redevco Netherlands has acquired a portfolio of five retail units from Metroprop for EUR 17.7 mln. The units are located in A1 locations in Alkmaar, Venlo and Zwolle. The stores are leased on a long-term basis to Douglas, Hennes & Mauritz, Mexx, The Phone House and Van Haren.
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PropertyEU Archive
Pirelli outlines plans for real estate spin-off
Pirelli & Co outlined plans this week to spin off its real estate arm amid improving results for both its tyre and real estate businesses. In a statement, the Milan-based group said that it will assign its 58% stake in Pirelli & C Real Estate to its own shareholders following ...
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PropertyEU Archive
IVG expands institutional fund management team
Germany's IVG Immobilien has appointed Bernhard Berg (50) as management chairman and co-head of IVG Institutional Funds in a key step towards expansion of its institutional fund business. He will join Peter Le Loux from 1 August.
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PropertyEU Archive
Metro in talks with several investors to sell Kaufhof unit
German retailer Metro Group has confirmed that it is 'in talks' over a potential sale of its department store chain Galeria Kaufhof, but added that negotiations with investors are still at an early stage. 'We are not in exclusivity, the process is not that far yet,' a Metro spokesperson told ...
